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Forward Cities Inc

EIN 13-4302280 · Durham, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood75 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO EQUIP COMMUNITY LEADERS, CATALYZE NARRATIVE CHANGE, AND MEASURE PROGRESS OVER TIME, LEVERAGING FIRST-HAND ECOSYSTEM BUILDING EXPERIENCES ACROSS THE NATION.

Income
$1.7 million
Spending
$1.4 million
Spent on programs
71%
Reserves
2.1 months of spending
Largest source of income
donations and private grants, 57%
Employees
9
Volunteers
6
Highest pay
$155,741, president and ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 75 out of 100. Higher than 52% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.1 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 16% of income.

  • Income trend

    15 of 15

    Income rose 61% on the year before.

  • Spending floor

    15 of 15

    71% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    6 of 6 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $439,919 spent. E3 DURHAM COUNTY AWARD-AS THE SBA NAVIGATOR PROGRAM AND PILOT FUNDING ENDED IN NOVEMBER 2023, THE DURHAM COUNTY ARPA GRANT AWARD IS AN OPPORTUNITY TO LEVERAGE THE SBA'S INVESTMENT IN DURHAM COUNTY AND BUILD ON E3 DURHAM'S MOMENTUM. RECOGNIZING THE TREMENDOUS VALUE OF THE MANY DEDICATED AREA BUSINESS SUPPORT ORGANIZATIONS AND SERVICE PROVIDERS WHO WORK TIRELESSLY TO EQUIP DURHAM COUNTY BUSINESS OWNERS, THIS PROGRAM EARMARKS NEARLY 50% PROGRAMMATIC FUNDING AS PASS THROUGH TO 1) ENROLLED ENTREPRENEURS TO REDUCE THE COST OF DOING BUSINESS AND 2) SERVICE PROVIDERS TO ENGAGE THEIR EXPERTISE AND INCREASE THEIR ABILITY TO EFFECTIVELY AND SUSTAINABLY SERVE THE COMMUNITY.COMBINED WITH THE EXISTING STRENGTHS OF THE NAVIGATION MODEL, THESE EFFORTS WILL ALLOW US TO BETTER UNDERSTAND ENTREPRENEURS' NEEDS; PRIORITIZE NEEDS BY STAGE, SIZE, SECTOR, AND DEMOGRAPHICS; CONTINUE TO GROW CAPITAL READINESS AND CONNECTIONS; AND ENGAGE A BROADER SET OF SUPPORT ORGANIZATIONS AND SERVICE PROVIDERS TO LEVEL-UP SUPPORT FOR ENTREPRENEURS WHO NEED IT MOST.
  2. $301,366 spent. THE BLACK WALL STREET FORWARD PILOT PROGRAM LAUNCHED IN 2022 AND WAS MODELED ON THE PILLARS THAT MADE DURHAM'S ORIGINAL BLACK WALL STREET SUCCESSFUL, WITH THE GOAL OF CONTINUING THE LEGACY OF CATALYZING BLACK BUSINESS OWNERS AND CHAMPIONS. THE TRANSFORMATIVE PROGRAM ENGAGED FIVE COMMUNITIES THROUGHOUT THE STATE OF NORTH CAROLINA IN A COHORT-BASED LEARNING JOURNEY TO EXPLORE THE PAST AND PRESENT OF BLACK ENTREPRENEURSHIP IN THOSE COMMUNITIES AND TO TAKE COLLABORATIVE ACTION TO BUILD A BETTER COLLECTIVE FUTURE.
  3. $140,865 spent. TULSA ECOSYSTEM- FORWARD CITIES PARTNERED WITH BUILD IN TULSA TO CREATE A COMPREHENSIVE DATA FRAMEWORK FOR ACCELERATOR AND ENTREPRENEURSHIP-SUPPORT PROGRAM IMPROVEMENT. BUILD IN TULSA PROVIDES ENTREPRENEURS WITH A NETWORK OF ACCELERATORS, MENTORING, EDUCATION, NETWORKING, AND DIRECT FINANCIAL ASSISTANCE TO BUILD COMMUNITY AND STRATEGIC PARTNERSHIPS.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 2006.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

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